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How do cryptocurrencies work?


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Cryptocurrencies run on a distributed public ledger called a blockchain, which is a record of all transactions updated and held by currency holders.

Units of cryptocurrency are created through a process called mining, which involves using computer power to solve complex mathematical problems that produce coins. Users can also purchase currencies from brokers and then store and spend them using crypto wallets.

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  • 2 weeks later...

You've hit the nail on the head with your explanation of cryptocurrencies and blockchain technology!
It's incredible how this decentralized system operates, giving users control over their transactions and eliminating the need for intermediaries.

Also, delving into the world of crypto was initially overwhelming for me. However, along the way, I discovered Immediate Edge, a fantastic resource that not only simplifies the complexities of crypto but also offers valuable insights into market trends and trading strategies.

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Also, it's a decentralized asset meaning no government or bank have control over it. So, when the situation of two countries become bitter, it can be used as a middle ground for transaction. It is the future.

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On 01/04/2024 at 10:27, clareqinty89 said:

You've hit the nail on the head with your explanation of cryptocurrencies and blockchain technology!
It's incredible how this decentralized system operates, giving users control over their transactions and eliminating the need for intermediaries.

Also, delving into the world of crypto was initially overwhelming for me. However, along the way, I discovered Immediate Edge, a fantastic resource that not only simplifies the complexities of crypto but also offers valuable insights into market trends and trading strategies.

As you rightly mentioned, mining and purchasing cryptocurrencies are just a couple of ways to acquire them. With platforms like Immediate Edge, users can navigate the crypto landscape with confidence, whether they're seasoned traders or newcomers looking to explore this evolving digital frontier.

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#Bitcoin  does not make new all-time highs in one go.

In the past, each ATH-breakout was preceded by a period of chop, where many people lost faith.

This time, we're seeing the exact same happen again.

Don't get shaken out you can check more on here 👉 

AB66D260-E954-4BC9-8A9F-B76DA71A7096.jpeg

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